Source: The Tax Specialist Journal Article
Published Date: 1 Mar 2017
The decision of the Federal Court in the AusNet Transmission Group Pty Ltd case concerned the capital allowance treatment of copyright in various drawings and documents. The case turned on the exercise of the Commissioner's power under s 124R(5) of the Income Tax Assessment Act 1936 to allocate a cost to the copyright assets, and vicariously on the nature and scope of the opportunities that exist for review of the Commissioner's decision. The result of the decision is that s 124R(5) determinations are liable to objective merits review and afford no protected discretionary area to administrators. In part 1 of this two-part article, published in the October 2016 issue of the journal, the author set out the primary facts of, and issues in, the case, and discussed the decision at first instance in the Federal Court. Part 2 now turns to examine in detail the decision of the Full Court of the Federal Court on appeal, and the implications of the decision.
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